InfoSAWIT, MUMBAI – Palm oil demands did not derive from India, China, and Bangladesh only but also Pakistan because the last name escalated palm oil purchse in Augustus and September 2023.
As InfoSAWIT quoted from Reuters, July 2023 vegetable oil imports that included palm oil in China increased 48% from last year to be 778.000 tons.
For palm oil is more economic price than other vegetable oil, China escalated the purchase in phase. This also has something to do with palm oil supply in Malaysia and Indonesia.
Malaysian Palm Oil Board (MPOB) mentioned that palm oil exports from Malaysia in August 2023 escalated 15,55% to be 1,35 million tons to July 2023. AmSpec Agri Malaysia reported that in the first ten days of August 2023, palm oil exports from Malaysia increased 17,5% to be 383.795 tons. (T2)